NISSAY ASSET MANAGEMENT CORP /JAPAN

Key Holdings

The portfolio is anchored by a mix of passive investment vehicles and dominant technology giants.

• VTI (Vanguard Total Stock Market ETF) remains the single largest holding at $1.20 billion (6.64%), serving as the portfolio's core equity foundation.
• NVIDIA (NVDA) is the largest individual equity position, valued at $1.08 billion (5.99%), underscoring a significant bet on the AI infrastructure sector.
• Microsoft (MSFT) and Apple (AAPL) hold the third and fourth spots, with allocations of 5.03% and 4.40%, respectively.
• Notably, the SPDR Series Trust (SPYM) appears as the fifth largest holding at $782.6 million (4.32%). This position was aggressively increased during the quarter (see Quarter Changes), indicating a strategic shift toward this specific fund.

The top 50 holdings are dominated by familiar "Magnificent Seven" names—including Meta, Amazon, and Alphabet—alongside major ETFs such as IVV, XLV, and QQQ. The presence of Palantir (PLTR) at position 31 highlights exposure to high-growth software and defense analytics.